Rule 15 Custody of foreign contribution in respect of a person whose certificate has been cancelled
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- I · Rules
1Subs. by G.S.R. 695(E), dated 10th November, 2020 (Foreign Contribution (Regulation) (Amendment) Rules, 2020).If the certificate of registration of a person who has opened an FCRA Account under section 17 is cancelled, the amount of foreign contribution lying unutilised in that Account shall vest with the prescribed authority under the ActDefined in rule 2(a): Act means the Foreign Contribution (Regulation) Act 2010; 1[(aa) bank account means a bank account in a core banking compliant bank, which is integrated with the Public Financial Management System (PFMS)].
1. Subs. by G.S.R. 695(E), dated 10th November, 2020 (Foreign Contribution (Regulation) (Amendment) Rules, 2020).